Bank of America Increases TechnipFMC (NYSE:FTI) Price Target to $31.00

TechnipFMC (NYSE:FTI) had its price objective lifted by Bank of America from $30.00 to $31.00 in a research note published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the oil and gas company’s stock.

Several other equities analysts have also issued reports on the company. BMO Capital Markets lifted their price target on TechnipFMC from $32.00 to $33.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Citigroup lifted their price target on TechnipFMC from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Susquehanna lifted their price target on TechnipFMC from $34.00 to $35.00 and gave the stock a “positive” rating in a research report on Friday, July 26th. Finally, StockNews.com lowered TechnipFMC from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.74.

TechnipFMC Stock Performance

Shares of TechnipFMC stock opened at $26.52 on Monday. The company has a current ratio of 1.10, a quick ratio of 0.84 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $11.43 billion, a P/E ratio of 56.43 and a beta of 1.50. The business has a fifty day simple moving average of $26.22 and a two-hundred day simple moving average of $26.21. TechnipFMC has a 12 month low of $18.33 and a 12 month high of $29.85.

TechnipFMC (NYSE:FTI) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.31 by $0.12. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.23 billion. TechnipFMC had a return on equity of 14.36% and a net margin of 5.72%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities analysts forecast that TechnipFMC will post 1.37 earnings per share for the current fiscal year.

TechnipFMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 4th. Investors of record on Tuesday, August 20th were issued a $0.05 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $0.20 annualized dividend and a yield of 0.75%. TechnipFMC’s payout ratio is 42.55%.

Institutional Investors Weigh In On TechnipFMC

A number of large investors have recently made changes to their positions in the company. Oak Thistle LLC grew its stake in shares of TechnipFMC by 3.2% during the 2nd quarter. Oak Thistle LLC now owns 13,705 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 421 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of TechnipFMC by 5.1% during the 2nd quarter. Pallas Capital Advisors LLC now owns 8,901 shares of the oil and gas company’s stock valued at $246,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC grew its stake in shares of TechnipFMC by 73.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,165 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 492 shares during the period. Creative Planning grew its stake in shares of TechnipFMC by 3.2% during the 2nd quarter. Creative Planning now owns 17,392 shares of the oil and gas company’s stock valued at $455,000 after purchasing an additional 546 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of TechnipFMC by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 26,963 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 616 shares during the period. 96.58% of the stock is currently owned by institutional investors.

About TechnipFMC

TechnipFMC plc engages in the energy projects, technologies, and systems and services businesses in Europe, Central Asia, North America, Latin America, the Asia Pacific, Africa, the Middle East, and internationally. It operates through two segments: Subsea and Surface Technologies. The Subsea segment engages in the design, engineering, procurement, manufacturing, fabrication, installation, and life of field services for subsea systems, subsea field infrastructure, and subsea pipe systems used in oil and gas production and transportation.